There are numerous ways to collect debt from pledgers. The primary method of reminding them to pay their dues would be invoices and letters. However, those pieces of paper don’t always do the trick. That is why the next best thing to do is to take to the telephone and talk to debtors.
The great thing about the telephone-based collection is that one doesn’t need to travel long distances just to communicate with a client. It’s cost-efficient, time-saving, and energy-sparing. However, before engaging the other party, some techniques and maneuvers need to be employed so that the debtor won’t be intimidated and a sense of responsibility would be instilled, instead.
Before talking to the client, preparations must be made first. This means that the collector needs an attitude shift. He must also research about the debt and the history of the debtor, decide in advance if accepting an amount less than the full payment is acceptable, and determine when would be the best time to call. During the call proper, one must make sure that they are talking to the right person. Then the collector should ask for the full payment. What follows is waiting for a response. Never break the silence because the longer the silence, the greater the pressure that is exerted on the other party. One should listen to the debtor intently as well because clues on how to motivate him to pay up will be found in his speech.
Brennan & Clark helps organizations establish a well-defined goal for their collections, evaluate their internal procedures, and implement changes that will make their collections strategy more efficient. For more on debt collection, click here.
Image source: optionbox.co.uk
The great thing about the telephone-based collection is that one doesn’t need to travel long distances just to communicate with a client. It’s cost-efficient, time-saving, and energy-sparing. However, before engaging the other party, some techniques and maneuvers need to be employed so that the debtor won’t be intimidated and a sense of responsibility would be instilled, instead.
Before talking to the client, preparations must be made first. This means that the collector needs an attitude shift. He must also research about the debt and the history of the debtor, decide in advance if accepting an amount less than the full payment is acceptable, and determine when would be the best time to call. During the call proper, one must make sure that they are talking to the right person. Then the collector should ask for the full payment. What follows is waiting for a response. Never break the silence because the longer the silence, the greater the pressure that is exerted on the other party. One should listen to the debtor intently as well because clues on how to motivate him to pay up will be found in his speech.
Image source: consumerreports.org
Brennan & Clark helps organizations establish a well-defined goal for their collections, evaluate their internal procedures, and implement changes that will make their collections strategy more efficient. For more on debt collection, click here.
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